How it works
This function saves a format into the slot and allows for it to be applied to a cell simply by clicking on where it has been saved. The saved formats are saved across instances of excel and will be retained even on PC restart.
How to use it:

Step 1
Select a cell that contains the formatting to be saved and used again.

Step 2
In the Formatting and Grooming group, click on one of the 6 quick formatting options to save the formatting in that slot.

Step 3
On completion, the icon will become highlighted, this indicates that the formatting has been saved.
To apply the formatting, select the cell and click on the same icon.

Step 4
To change the saved formatting, click on ‘Clear All’